Northern Pacific Railroad Stock Issued To And Signed On Verso By Russell Sage

1884, New York. Stock certificate for 100 shares. Orange/Black. Engraved vignette of a steam locomotive at top center, nice portrait vignette of Frederick Billings at bottom. Issued to and signed on verso by Russell Sage (1816-1906). Banker; Financier; U.S. Congressman. As the originator of "put and call options", Sage greatly changed the way speculators played the stock market. Among America's most powerful and wealthy bankers, he financed Jay Gould and made a vast fortune on the latter's stock manipulations. "Sage was one of the shrewdest and most conservative of all great financiers." (DAB) At one time he is said to have had $27,000,000 out on call loans. At the time of his death he left a fortune worth an estimated $70,000,000. Punch and stamped cancelled.